Essay question (7 marks) - Dividends Jabulani Ltd has identified an opportunity to operate a peanut butter factory in Mozambique. The company will not be able to borrow at this stage and the funding for this project will have to come from equity. The company has issued 30m shares 10 years ago. Earnings and dividends for the past five years have been the following: Year EPS DPS 2020 2.7 1.80 2019 2.44 1.60 2018 2.20 1.60 2017 2.46 1.60 2016 2.30 1.60 Financial year 2021 has just ended and the earning per share were 3.00 per share. As a financial manager of Jabulani Ltd and you are required to recommend a dividend to the board of directors in a form of a report.